Treasury Won't Mint Platinum Coin to Avoid Debt Ceiling

By

Eric Morath and

David Wessel

Updated Jan. 12, 2013 5:50 p.m. ET

The U.S. Treasury and Federal Reserve said they won't pursue a plan to mint a trillion dollar coin as a device to avoid the debt ceiling.

"Neither the Treasury Department nor the Federal Reserve believes that the law can or should be used to facilitate the production of platinum coins for the purpose of avoiding an increase in the debt limit," said Treasury spokesman Anthony Coley.